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Thursday 20 December, 2007

Morley Alt.Inv.Strat

Roll-Up of Series of Shares

MorleyAlternativeInvStrat Fd PCC Ld
20 December 2007

Stock Exchange Announcement




For immediate release                                                              20 December 2007






Morley Alternative Investment Strategy Fund PCC Limited (the 'Fund')



Central European Long Short Cell (the 'Sub-fund')





Re:      Roll-up of Series of Shares



The Board of Directors (the 'Board') of the Fund wish to announce that it has
applied to the Irish Stock Exchange to delist the following series of shares of
the Sub-fund (the 'Shares') from the Official List and from trading on the Main
Market of the Exchange.



CELS USD Shares - Series 3

CELS USD Shares - Series 4

CELS USD Shares - Series 5

CELS USD Shares - Series 6

CELS USD Shares - Series 8

CELS USD Shares - Series 11



CELS GBP Shares - Series 2

CELS GBP Shares - Series 6

CELS GBP Shares - Series 7

CELS GBP Shares - Series 10



CELS EUR Shares - Series 4

CELS EUR Shares - Series 8

CELS EUR Shares - Series 10





The delisting is being sought as the Shares have been rolled up and converted
into the CELS (USD) Shares - Series 1, CELS (GBP) Shares - Series 1 and CELS
(EUR) Shares - Series 1, respectively.



Application has been made for the Shares of the Fund to be removed from the
Official List and from trading on the Main Market of the Irish Stock Exchange
and the Exchange has agreed that the Shares be delisted with effect from today.





Enquiries:


Goodbody Stockbrokers                                                             Aisling Murphy

                                                                                  +353 1 641 9151





This announcement has been issued through the Companies Announcement Service of



The Irish Stock Exchange








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